![Goodyear awarded in Luxembourg for IntelliMax technology](https://www.tyrepress.com/wp-content/uploads/2015/01/Goodyear_Wins_Luxemburg_Innovation_Award_2014.jpg)
Goodyear awarded in Luxembourg for IntelliMax technology
For the third time in five years, Goodyear’s Europe, Middle East and Africa business unit has been acknowledged by the Luxembourg Business Federation (FEDIL). The latest honour, this year’s innovation award, was given for the tyre maker’s IntelliMax Groove Technology for truck tyres, which was first introduced on the Fuelmax S steer axle tyre.
Continue ReadingBirla Tyres plant acquisition talks ‘speculative’, says Kesoram Industries
An article published by Indian financial daily The Economic Times, which claims MRF Tyres is in advanced discussions with Kesoram Industries over the purchase of its tyre making facility in Laksar, Uttrakhand state, has been labelled “purely speculative in content” by Kesoram Industries. In a letter sent to the Bombay Stock Exchange on 20 January, company secretary Gautam Ganguli stated that the news of negotiations was “based entirely on speculation and conjecture.” Kesoram sent a similar letter to the newspaper a day earlier.
Continue Reading![Unit sales record for Uniwheels](https://www.tyrepress.com/wp-content/uploads/2015/01/150119_uniwheels_production.jpg)
Unit sales record for Uniwheels
Uniwheels AG, the company behind the ATS, Rial, Alutec and Anzio wheel brands, says its unit sales rose 5.2 per cent in 2014. During the year it sold a total of 7.2 million wheels in both the original equipment and aftermarket segments.
Continue ReadingGoodyear declares common stock dividend
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.06 per share of common stock. The dividend is payable 2 March 2015 to shareholders of record on 2 February 2015. The payout represents an annual rate of $0.24 cents per share.
Continue Reading![Tyres & football: Kumho partners with FC Schalke 04](https://www.tyrepress.com/wp-content/uploads/2015/01/Jobst-Kim-handshake-15-01-2015.jpg)
Tyres & football: Kumho partners with FC Schalke 04
Kumho Tyre has picked up another football sponsorship agreement to complement its activities with the Spanish La Liga. This new sponsorship deal is with Champions League and German Bundesliga team FC Schalke 04. The contract runs until the end of the 2016/2017 season and contains the option of further collaboration. As sponsorship partner, Kumho will be represented on LED signage at FC Schalke 04’s home ground, Veltins Arena, and receive other advertising opportunities both in the stadium and in team-related publications. The team’s bus will also be equipped with Kumho tyres.
Continue ReadingETRMA reports “positive stability” in members’ 2014 sales
The European Tyre and Rubber Manufacturers’ Association reports that its members’ car, truck and two-wheel tyre sales increased year-on-year in 2014, while agricultural tyre sales were down. Results for the fourth quarter alone were less positive, and the ETRMA comments they “further confirmed the downturn in sales registered in the third quarter of the year.” The exception to this was sales of motorcycle tyres, which remained positive all the way through 2014. The association opines that the lower results towards the end of the year may be linked to lacklustre winter tyre sales due to the mild winters experienced on the continent for the last couple of years.
Continue Reading![Heuver Tyrewholesale launches new website, tyre app](https://www.tyrepress.com/wp-content/uploads/2015/01/heuver.jpg)
Heuver Tyrewholesale launches new website, tyre app
New year, new website - Heuver Tyrewholesale has begun 2015 with the rollout of a completely new website and an accompanying tyre app. Heuver says both initiatives aim to optimise the tyre search and order process and are in line with the company’s vision of becoming the most customer-friendly tyre wholesaler, a process it began last year with the adoption of a more geographic approach within its marketing and customer service teams.
Continue ReadingIs Continental’s 4Q EBIT preview a low-level profit warning?
Shortly after Continental AG pre-released its fourth quarter 2014 results at the North American International Auto Show in Detroit on Monday 12 January 2015, the company also previewed estimated fourth quarter pre-tax profits. The problem is that while the majority of the advance figures were broadly in line with expectations, the pre-tax profit (EBIT) figure wasn’t. So with this in mind it begs the question of whether Continental executives are preparing the market for a lower than expected result when the final figures are published on 5 March 2015.
Continue ReadingMichelin implements partial share buyback management agreement
At its Annual Shareholders Meeting on 16 May 2014, Michelin authorised a partial share buyback scheme, and now it is utilising an investment services provider to meet “certain objectives” of what it calls its “Share BuyBack Program”. Under the terms of the agreement signed on 9 January, Michelin has given the investment services provider the green light to sell up to one million Compagnie Générale des Établissements Michelin shares to Compagnie Générale des Établissements Michelin. These shares will be purchased between 12 January 1, 2015 and 27 November 2015, at an average price to be determined objectively and independently by the market over the duration of the agreement, less a guaranteed discount.
Continue Reading![Jaguar to make crossover vehicle in Solihull, creating 1,300 jobs](https://www.tyrepress.com/wp-content/uploads/2015/01/Jag_C-X17_China_Image_211113_02-device_destkop-1366x660_tcm91-49620_desktop_1366x660.jpg)
Jaguar to make crossover vehicle in Solihull, creating 1,300 jobs
Jaguar Land Rover is to manufacture a new “performance crossover” vehicle at its Solihull production plant. According to the announcement made at the Detroit Motor Show, together with a bid to extend its expertise in aluminium and lightweight technologies, the company will create 1,300 new jobs. These are in addition to the 1700 created in 2013 for the introduction of the Jaguar XE. The companys headcount has doubled over the past few years to more than 32,000 globally, of which 30,500 are in the UK.
Continue ReadingAeolus Tyre fined for falsifying 2011, 2012 financials
In a Chinese-language statement submitted to the Shanghai Stock Exchange on 9 January, Aeolus Tyre Co. Ltd reports that the Henan office of the China Securities Regulatory Commission has fined the company for falsifying its financial results for the 2011 and 2012 fiscal years.
Continue ReadingPirelli underwrites new revolving and term loan multicurrency facility
On 9 January, Pirelli signed a new revolving and term loan multicurrency facility worth a total of €1.0 billion and with a maturity of five years. The facility replaces an existing €1.2 billion revolving line of credit that is due to expire in November 2015 and which, as a consequence, will be cancelled in advance. The new revolving credit line totals €800 million while the Term Loan amounts to €200 million, with an amortisation structure which reflects the Pirelli Group’s cash flow generation and deleveraging trends.
Continue ReadingContinental aiming for 5% sales growth in 2015, releases preliminary 2014 results
The European replacement tyre market displayed a “pronounced weakness” in the four quarter of last year, says Continental Corporation, however during the 2014 fiscal year the company as a whole managed to grow year-on-year, and achieved an annual turnover of approximately €34.5 billion. The company’s adjusted EBIT margin exceeded 11 per cent.
Continue ReadingBandvulc first tyre firm to join SEDEX ethical exchange
Bandvulc Group has become the first tyre company to join the SEDEX ethical business information exchange organisation. Bandvucl reports “Our involvement with SEDEX and this sharing of information was initiated by our customers Tesco and as a result we at Bandvulc believe we are the first transport industry supplier to become compliant.”
Continue Reading![Show review: Reifen China 2014](https://www.tyrepress.com/wp-content/uploads/2015/01/RC-entrance.jpg)
Show review: Reifen China 2014
The eighth annual “Asian Essen”, Reifen China took place at the Shanghai New International Expo Centre in the first week of December, with some of the Chinese tyre industry’s major players rubbing shoulders for the last time in 2014. The European side of the Sino-German partnership behind the annual show, Messe Essen stated that it expected the presence of around 120 exhibitors in hall W1 and 15,000 trade visitors. This latter figure, unconfirmed at the time of writing, takes into account the other three-quarters of the twin exhibition; RubberTech China 2014 and the International Exhibition on Rubber & Elastomer, led by the China United Rubber Corporation, comprised around 500 exhibitors across another three halls (W2-4). Messe Essen CEO, Oliver P Kuhrt stressed the importance of the ‘Reifen’ brand’s presence in China, stating in his introduction to the show that it “stands for the success of a fair made in Essen extending across borders”. With about two thirds of the exhibitors at May’s Reifen 2014 visiting Essen from outside Germany, Messe Essen also noted the importance of Reifen China in recruiting Asian participants, whose attention the exhibition organiser has drawn in Shanghai.
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